[03] Air traffic controllers strike illegal - Flights on Sunday, according
to schedule

AMNA/Moody's on Friday downgraded the long-term deposit and senior debt
ratings of eight rated Greek banks by two notches, with all of the banks'
long-term deposit and debt ratings carrying a negative outlook.

Moody's downgraded National Bank of Greece (NBG), EFG Eurobank Ergasias,
Alpha Bank, Piraeus Bank, Agricultural Bank of Greece (ATE) and Attica
Bank from B3 to Caa2, and Emporiki Bank and General Bank of Greece
(Geniki) to B3 from B1.amna

The rationale for the downgrading included a substantial deterioration
of the domestic economy and the above credit institutions' exposure to
Greek government bonds.amna

Moody's also said that although the recently announced merger of Alpha
Bank and EFG Eurobank Ergasias has some potential positive elements
for the credit standing of the future joint entity (that will result
from the merger, which is expected to be completed by the end of 2011),
Moody's believes that these are offset by the currently fragile operating
environment. AMNA

AMNA / Prime Minister George Papandreou on Thursday held a meeting with
ruling PASOK MPs elected in the Ionian islands and Crete. The premier
is holding a round of meetings with members of PASOK's Parliamentary
group to exchange views and point out problems that need to be resolved.

In statements to the MPs, Papandreou said that Greece had for the past
two years been waging a battle "with great sacrifices for the Greek people
that must be won" and stressed that there was no other path to follow.amna

"The other road is that of default, with major and grave repercussions
for every household, every Greek man and woman," he added.

The prime minister underlined that the effort must not be abandoned
midstream, so that all the sacrifices made were lost, and that one
last great effort must be made to "lock in place" the European Union's
crucial July 21 decisions for a second bailout package for Greece and
a lightening of the debt burden on the Greek people.amna

"Finally, we are heading toward a primary surplus based on our own
decisions. In other words, we will no longer generate deficits," he
stressed, adding that this would give the country prospects of growth
and recovery.amna

"

[03] Air traffic controllers strike illegal - Flights on Sunday, according
to schedule

AMNA / All domestic and international flights to and from Greece are
expected to be carried out as scheduled on Sunday after an Athens court
ruled as "illegal" a 24-hour strike called by Air Traffic Controllers
for that day.